EURUSD Weekly Analysis – February 16, 2014

EURUSD remains in uptrend from 1.2747 (Apr 4, 2013 low), the price action from 1.3832 is treated as consolidation of the uptrend, another fall to 1.3400 area to complete the consolidation is still possible. Resistance is at 1.3740, only break above this level will indicate that the uptrend from 1.2747 has resumed, then next target would be at 1.4000 area.

eurusd chart